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U.S. may act alone to ban Russian oil imports, sources say

Published 03/07/2022, 10:56 AM
Updated 03/07/2022, 09:51 PM
© Reuters. FILE PHOTO: A Chevrolet pickup truck drives past fuel pumps at Terrible’s Road House, the world’s largest Chevron gas station, in Jean, Nevada, U.S., February 27, 2022.  REUTERS/Bing Guan/File Photo

By Jarrett Renshaw and Timothy Gardner

WASHINGTON (Reuters) -The United States is willing to move ahead with a ban on Russian oil imports without the participation of allies in Europe, two people familiar with the matter told Reuters, in light of Russia's invasion of Ukraine.

President Joe Biden held a video conference call with the leaders of France, Germany and the United Kingdom on Monday as his administration continues to seek their support for a ban on Russian oil imports.

The White House is also negotiating with U.S. congressional leaders who are working on fast-tracking legislation that would ban Russian imports, a move that is forcing the administration to work on an expedited timeline, a source told Reuters, speaking on condition of anonymity.

A senior U.S. official, also speaking on condition of anonymity, told Reuters that no final decision has been made but "it is likely just the U.S if it happens."

Germany, the biggest buyer of Russian crude oil, has rejected plans to ban energy imports. Germany is accelerating its plans to expand its use of alternative energy sources but cannot halt imports of Russian energy overnight, German Chancellor Olaf Scholz said on Monday.

Oil prices have soared to their highest levels since 2008 due to delays in the potential return of Iranian crude to global markets and as the United States and European allies consider banning Russian imports.

Europe relies on Russia for crude oil and natural gas but has become more open to the idea of banning Russian products. The United States relies far less on Russian crude and products, but a ban would help drive prices up and pinch U.S. consumers already seeing increasing prices at the gas pump.

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"We import such a smaller percentage of oil from Russia than the Europeans do ... it is very different circumstance," White House Press Secretary Jen Psaki told reporters.

U.S. House of Representatives Speaker Nancy Pelosi said in a Sunday letter that her chamber is exploring legislation to ban the import of Russian oil and that Congress intends to enact this week $10 billion in aid for Ukraine in response to Moscow's military invasion of its neighbor.

A bipartisan group of U.S. senators introduced a bill on Thursday to ban U.S. imports of Russian oil. The Senate bill is getting fast-tracked.

After Russia invaded Ukraine, the White House slapped sanctions on exports of technologies to Russia's refineries and the Nord Stream 2 gas pipeline, which has never launched.

So far, the United States has stopped short of targeting Russia's oil and gas exports as the Biden administration weighs the impacts on global oil markets and U.S. energy prices.

Asked if the United States has ruled out banning Russian oil imports unilaterally, U.S. Secretary of State Anthony Blinken on Sunday said: "I'm not going to rule out taking action one way or another, irrespective of what they do, but everything we've done, the approach starts with coordinating with allies and partners," Blinken said.

At the same time, the White House did not deny that Biden might make a trip to Saudi Arabia as the United States seeks to get Riyadh to increase energy production. Axios reported that such a trip was a possibility.

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"This is premature speculation and no trip is planned," a White House official said.

A year ago, Biden shifted U.S. policy away from a focus on Saudi Crown Prince Mohammed bin Salman, who is considered by many to be the de facto leader of Saudi Arabia and next in line to the throne held by the 85-year-old King Salman.

Latest comments

very funny 😂
Lolol. Clueless Joe Biden. Ignoramus approved that 630m dollar pipeline that connects Russia to Afghanistan, and now they control the majority of the territory of said pipeline with the Invasion of Ukraine. Bravo......bravooo
And the Russia Uranium dependency that provides 20% of US electricity through nuclear power?
It is pathetic that we imported oil from Russia. We must be energy independent and a leading oil exporter as we were during President Trump!
based on your comment I can tell that you know nothing at all about crude oil. The crude oil the US exports is different from what's imported into. Google if you want
it's mainly the west coast that imports oil from Russia, cuz there's no pipeline connecting Texas to the west coast. Oil tanker transportation also isn't feasible cuz panama canal and Texas ports are restricted for smaller ships, and transporting oil using smaller ships is costly. Now if Trump haven't cancelled Canada's keystone pipeline to the Midwest USA, this would be less of a problem.
It is pathetic that we imported oil from Russia. We must be energy independent and a leading oil exporter as we were during President Trump! Please grow up guys!
Some people are just blinded by their hate towards a person that actually cared about America and its citizens!
the higher it goes, the more I think covid was a setup, the lockdowns were the only way to drive demand to zero, the only way to get oil to zero, to take control of world oil, to then send it to the moon, to then use riches to fund next NWO phase.....
LMAO
so all democrats are calling for $10 a gallon and triple the price for our food. all because they ALL hate oil. I mean it's not like they did not destroy the local oil production already.
no just because Powell pumped so much liquidity that even low grade speculators felt comfortable pumping Oli and all other commodities prices
they don't hate oil.  They hate us.
Because they all HATE Americans and don’t give a s…of their lives !
Biden means inflation
I call on the nations of the FREE WORLD to join the oil embargo! Putin must be stopped NOW! at all cost. -- It won't be a cozy ride. Wake up now coz waking up later is gonna cost you even more. Pull up your sleeves to look for alternative energy sources. You've got the brains. Brains are to be used. They're NOT for decoration.
You exemplify the difference between those who are with Ukraine and those who support Putin. You are thoughtful with something to say about a better future. The Putin trolls have mere name calling to defend atrocities against humanity. You have values. They have no morality, just devotion to suffering.
Ban but where to buy?
Venezuela, Iran
Ha Ha !
Comments getting Deleted so don't bother unless you agree with the Joke moderator
Why are your posts getting deleted? Because you're sympathizing with Trump?
what does Trump have to do with any of this??
Comments getting deleted by the State Run Media here..Let's go Brandon!
Go Biden!
Germany is already reeling from record high energy prices and large supply chain disruptions unlike oil/gas exporters like US and UK. A ban on import of Russian crude and oil will of course severely impact Germany's economy and push it into recession.
Germans are smart enough to endure a belt-tightening and to find alternative energy sources. -- There must be other sellers of energy aside from Putin
Of course, but you are not goint to like the price.
Freaking weak eu should freaking step up their game. I, as an eu citizen, rather walk to my job every day then consume Russian oil. And I rather sit in the cold, then consume Russian gas. Stop buying blood oil from this murderous state. Please.
Agree. Their are values worth sacrificing for. Opposing criminal war and murderous death of innocent people is one of them. Compare to the sociopaths on this site who think it's funny to pretend there is no moral high ground.
Maybe Your countrymen prefer not to be fooled by US like Ukraine.....
So what keeps you from doing exactly that?
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